For my group presentation we have decided on healthy fast food restaurant-Healthy fast. We will implement segmentation, targeting, positioning, market research, differentiation and four Ps. my part is market research and differentiation our product. I need some ideas about market research and differentiation strategies and implementing those strategies for our product. This is our simple outline:
Healthy Fast Food Restaurant- Healthy Fast
Target Market- Involved families. People already concerned with health. Upper-middle class to Upper Class. Whole Food eaters
Position- Quick healthy eating, for those too busy to cook.
Market Research- focus groups
- Database = income, family size, location
Coupons in Good Housekeeping, Family Circle, and Fitness Magazines...
Story- food fuels life, want our kids to have a long and healthy one
App.- Partner with My Fitness Pal.
Segmentation- income, geographic location, upper class suburban areas, West Chester
- Webpage offers fun and active activities for families
- We say we are breaking the mold of fast food, have commercials promoting different family dynamics wanting to eat healthy?
Thank you!© BrainMass Inc. brainmass.com October 25, 2018, 9:25 am ad1c9bdddf
You must determine the consumer needs and develop methods to meet these needs efficiently in order to target the market and exploit potential opportunities. To perform market research you must first determine who your customers are. This can be done by evaluating competitors and their customers. Here is a link to healthy fast food places: http://www.health.com/health/article/0,,20411588,00.html
It lists Panera Bread and Chipolte. These might be good starting points. Surprisingly, McDonalds is also listed. This chain should not be ignored. They reach a huge market share and have a focus on families. In addition they are putting increased emphasis on healthy food (http://www.nytimes.com/2013/09/27/business/mcdonalds-moves-toward-a-healthier-menu.html?_r=0). You don't need to reinvent the wheel, you need to study what others are doing and work on improving it. Get a copy of their annual reports. Surveying consumers and looking at sales data of competing chains (often public so easy to get) can help get more data. Visiting competitors is also an important part of market research. Don't limit yourself to simply looking at fast food options: consider upscale grocery stores (Whole Foods), simple restaurants, etc. The big item here is identifying the customer you are trying to ...
This detailed solution gives ideas for market research and differentiation tactics in starting a healthy fast food restaurant. Includes APA formatted references.
Marketing Research Plan for New Company Called 'The Hot Potato'
Assignment #1 - Market Segmentation and Product Positioning.
The student is required to prepare a research plan to support introducing the product and service for your original company's marketing plan to the U.S. market. In addition to stating your marketing objectives, the student is required to:
1. Identify the marketing segment for the product and explain why this segment was selected
2. Discuss the target market and why these customers will be targeted
3. Conduct a SWOT (strengths, weakness, opportunities and treats) analysis for the company
4. Describe the market position for your product and service.
Support your recommendations with at least two reference sources that discuss the nature of the product, use of market research methods related to the product, or considerations in conducting research.
1. The name of the company must be on the cover page of the assignment.
2. The assignment questions must be written as headings. The answer to the question must follow the question, and must be written in APA format.
3. The answers to the questions must be written in sentence format, be free of grammatical errors, and demonstrate a thorough understanding of the question topic.
4. The paper must contain citations.
5. The paper must have at least two reference sources, and one should be an industry reference.
6. The assignment must include a reference page.
This is for a hypothetical company... I would like the company name to be "The Hot Potato"
Mission statement "Our mission is to have a healthy food selection coupled with efficient and superior service."
Objectives: to establish a presence as a successful fast food outlet and to gain a market share in the food industry.
To make 'The Hot Potato' a destination spot for target market segment.
To expand to numerous locations by year three and venture into franchising in metropolitan cities across the nation.